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An investor has to make a payment of 250,000 GBP (British Pounds) at an exchange rate of $1.6000/GBP. How much does the investor gain or

An investor has to make a payment of 250,000 GBP (British Pounds) at an exchange rate of $1.6000/GBP. How much does the investor gain or loss if the exchange rate at the end of the forward contract is (a) $1.5000/GBP and (b) $1.6500/GBP?

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